Why is it in the news?

• Recently, the UNEP published the Global Resource Outlook 2024 report.

 Key findings of the report

Production and Consumption Trends:

• The consumption and use of resources have seen a significant surge, driven predominantly by demand from upper-income countries.
• Over the past 50 years, global production and consumption of material resources have escalated by more than threefold.

 Impacts of Extraction and Processing:

1) Environmental Impact:

• Extraction and processing of material resources are major contributors to environmental degradation.
• They account for over 55% of greenhouse gas emissions and 40% of particulate matter pollution worldwide.

2) Biodiversity and Land Use:

• Extraction and processing of agricultural crops and forestry products are responsible for 90% of land-related biodiversity loss and water stress.
• Additionally, they contribute to one-third of greenhouse gas emissions.

3) Fossil Fuels and Minerals:

• The extraction and processing of fossil fuels, metals, and non-metallic minerals, including sand, gravel, and clay, account for 35% of global emissions.

 Future Projections:

• The report predicts a substantial increase in resource exploitation, estimating a rise of nearly 60% from 2020 levels by 2060, reaching approximately 160 billion tonnes.

 Global Inequality:

• There exists a stark contrast in resource consumption between low-income and high-income countries, with low-income nations consuming six times fewer materials compared to wealthy nations.

Utilization Trends:

• Upper middle-income countries have witnessed a significant surge in resource utilization over the last five decades, more than doubling their consumption.
• This surge is largely attributed to the need for infrastructure growth in these countries.